Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
New Look is set to complete a £100m debt refinancing to help the business amid a poor trading environment, Sky News has reported.
The high street fashion retailer is reportedly in advanced talks with Blazehill Capital and Wells Fargo to replace a term loan that matures in June 2024.
Sky stated that talks about refinancing the debt have been going on for months.
The company is also said to be working with Deloitte to look for other loan options.
Alteri, Davidson Kempner and Goldman Sachs are New Look’s lenders for the deal.
A New Look spokeswoman told Sky: “With New Look’s c.£100m term loan maturing in June 2024, the group is currently in positive discussions with advisers and potential lenders regarding a refinancing.
“The business continues to deliver on its strategic objectives, underpinned by its omnichannel strategy, fashion credentials and great value product.”
Retail Sector contacted New Look for a comment.
